A jewelry device adapted to have interchangeable jewels includes a decorative setting, such as a ring, earrings, or pendant, for displaying a jewel. The decorative setting has a jewel receiving space to receive and hold a jewel housing having a jewel secured therein when the jewel housing is inserted into the jewel receiving space. A fastener held by the decorative setting is adapted to attach to and hold the jewel housing with jewel secured therein when the jewel housing is inserted into the jewel receiving space of the decorative setting. The fastener may be inseparably attached to the decorative setting so it is not separated and lost when changing jewels. Further, the jewel receiving space and the jewel housing may have interlocking portions to prevent relative rotational movement between the jewel housing and the decorative setting when the decorative setting is received in the jewel receiving space.